The GateOracle: $GT GETS A SEAT AT THE LONG HODL TABLE
The GateChain blockchain was launched in 2019 and has been one of the most secure blockchains in existence ever since. Its native coin, with the same name, is a deflationary coin by nature thanks to the team’s ongoing coin burns.
In the past few years the GT ecosystem has grown in popularity and is presently hosting many other projects. GT was also adapted as a native token by the centralized exchange Gate.io. This helped the GT token reach an all time high price of $12.94 compared to the day1 price at launch of $1.07.
At the moment of writing this article the GT token is trading at $4.96 due to several black swan events which affected the whole world’s economy.
Along with constant growth and security, the GT team has been completely focused on improving its technology and assuring sustainability in the long run.
GATECHAIN IS HERE TO STAY:
Similar to all the blockchains in existence, GT had to face the same problems and one of them was the need to open up to the world in real time and with real world data.
Why is that so important, you may ask? Well, the answer is simple:
Blockchain technology is secure and efficient with decentralized transactions but when it comes down to actually inputting vast amounts of real world data it can be very limiting. Real world data is very important since it can directly affect a token’s price, for example: extreme weather and outages or as seen in recent events, FOMC meetings and inflation.
To stay ahead of the market and up to date with the real world changes, the GT team has successfully deployed a GateOracle on ChainLink.
ChainLink is an agnostic decentralized network composed of a multitude of nodes that help supply data from the real off-chain world into the digital blockchain world and it does so through smart contracts.
Having agnostic technological properties, it means that it can easily be interoperable among several blockchains or systems.
This allowed for the GateOracle to be born.
THE GATECHAIN ORACLE:
As mentioned above, the GateOracle was implemented by the GT team through ChainLink and is now able to provide real world data in real time, combined with the blockchain data, such as the BTC price in report with the USD or other currencies from around the world.
Each on-chain price feed belongs to an on-chain address. This is a function that allows the independent GateOracle nodes to exchange data with the feeds in a decentralized, accurate and real time manner.
THE LONG HODL TABLE:
Having implemented the Oracle feature along with PoS, Multi-Sig/Vault wallets, EVM compatibility, Asset issuance, Rewards on liquidity, NFT minting and of course the GateChain Bridge; the GT ecosystem has attracted a big number of traders and investors.
These features have placed GateChain into the spotlight among vast international communities that have a strong bullish sentiment for the long term hodl.
What do you think the $GT will be worth in a few years from now and what other new features will the team implement?
Please let us know in the comments.
To learn more about the GateChain Ecosystem go here:
- Official website: https://gatechain.io/
- Twitter: https://twitter.com/gatechain_io
- TikTok: https://www.tiktok.com/@gateioglobal
- YouTube: https://www.youtube.com/c/GateioCrypto
- Discord: https://discord.com/invite/TADecrzfcP
- Telegram: https://t.me/gatechain
- CEX: Gate.io https://gateio.medium.com/
- DEX Hipo.com
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